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Are you a qualified investor looking for a highly customized investment management experience tailored to your unique financial situation? If so, Matisse Capital can construct and manage separate accounts employing our discounted closed-end fund (CEF) strategies.
What is a Separately Managed Account?
Also known as separate accounts or individually managed accounts, a separately managed account (SMA) is an investment portfolio owned by an investor but managed by a professional investment firm like Matisse Capital.
Investors Who May Benefit From a Discounted Closed-End Fund Separately Managed Account (SMA)
Institutions
Foundations, endowments, defined benefit plans, 401(k) plans, and other retirement vehicles have needs that must be filled based on the mandate of their organization or the participants they represent. Matisse Capital can manage a separate account of discounted CEFs for these institutions (as well as the consulting firms that advise them) either directly or through their investment committees and consultants.
Family Offices
Family wealth is typically accumulated through long-term ownership of both public and private companies. Whether you're the member overseeing the wealth of your family or the wealth management advisor providing due diligence and trust to a family (or group of families) that you work with, our expertise in CEFs can help meet the wealth creation needs you have to address. We can build and manage discounted closed-end fund SMAs for both single family and multi-family offices.
Advisors
As an investment advisor, Matisse Capital knows the challenges and goals investment advisors balance every day. Our firm’s thought leadership, quarterly commentaries, and media appearances can help other investment advisors make informed choices for their clients. We can build and manage discounted closed-end fund SMAs for both registered investment advisors or financial advisors of a broker-dealer organization.
The Potential Benefits of Separately Managed Accounts (SMAs)
Customization
Matisse Capital can build and manage highly customized discounted CEF separate accounts, tailored to virtually any investment mandates, objectives, styles, asset classes, geographic concerns, risk levels, or investor preferences as allowed within the closed-end fund market.
Tax Efficiency
With an SMA, an investor is only taxed on any realized gains. This offers the potential for greater tax efficiency, as an SMA can be tailored to an investor’s unique tax situation.
Transparency
By opening an SMA directly with Matisse Capital, you can receive regular, comprehensive reporting and see all your holdings and transactions in real time as they happen, rather than learning about those trades after the fact. Periodic reporting will show the CEFs you own, number of shares, and many other relevant details to help you better understand how your investments are performing over time.
A Personalized Approach
Constructing an SMA is just the beginning of an ongoing investment management process. Together, you and our professional team will work to make sure your SMA is on track to meet your investment objective and goals. You’ll also gain access to the portfolio managers who actively manage your SMA.
Cost
While the minimum account size for an SMA employing our expertise and knowledge of CEFs is much higher ($25,000,000) than it is for our mutual funds, we offer a competitive fee structure that is negotiable based on total account size.
Control
As the account owner of an SMA, you’ll have a direct ownership stake in the closed-end funds held within your account.
Tracking Separately Managed Account Performance
We maintain two longer-term performance track records for our discounted closed-end fund strategies.
To receive a copy of our composite performance tear sheets, please send a request to info@matissecap.com.
Minimum Account Size for Discounted CEF Separately Managed Accounts (SMAs)
For SMAs leveraging our expertise and knowledge of CEFs, our minimum account size is $25,000,000.